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Disorganization at banks causing mistaken foreclosures

Disorganization at banks causing mistaken foreclosures
May 6, 2010 --

Millions of people face losing their homes in the continuing foreclosure crisis, but homeowners often have more than the struggling economy and slumping house prices to worry about: Disorganization within the big banks that service mortgages has made a bad problem worse. Sometimes the communication breakdown within the banks is so complete that it leads to premature or mistaken foreclosures.

Homeowners: Banks not following rules for loan modifications

Homeowners: Banks not following rules for loan modifications
January 19, 2010 --

An examination shows how mortgage servicers have created unnecessary hurdles to getting loan-mods and have violated the government’s rules for the program. “There’s a real resistance on the servicers’ part to making permanent modifications,” said Diane Thompson of the National Consumer Law Center.